a state-of-the-art program in investment principles and applications from top-flight professionals

"Peter Bernstein and his Dream Team tackle the entire investment spectrum―from soup to nuts―and emerge triumphant. Must reading for all investors―even those who already have their MBAs." ―Jack R. Meyer, President and CEO Harvard Management Company, Inc.

"This book provides a treasure chest for the serious student of investment." ―William Reichenstein, Power Chair in Investment Management Baylor University

"This is an indispensable resource for anyone who is serious about investing. The lucid and insightful contributions by highly respected experts successfully blend theory with practice." ―Claude Erb, Managing Editor First Chicago Investment Management Company

"Peter Bernstein has uniquely facilitated a revolution in investment thinking and practice over the last several decades. Students of investing everywhere are fortunate to have such a useful guide to some of the best practices in use today by the professional investment industry." ―Patricia C. Dunn, Managing Director and CEO Defined Benefit Group

"This book is an excellent addition to the investment bookshelf. It's long on substance, as readers of Peter Bernstein have come to expect of his work." ―Charles Froland, Managing Director Stanford Investment Management Company

Once upon a time, Wall Street lived off nice little homilies like "buy low and sell high" and "don't put all your eggs in one basket." But investors can no longer depend on such well-worn proverbs.

Today, the winners on Wall Street employ a body of theory that transforms logic, psychology, and statistical sophistication into a powerful package of systematic principles for successful investing. This body of theory is the investor's survival kit in a financial world flooded with information, novel strategies, and dazzling financial instruments.